A wealth management firm increased its number of financial advisers by 255% last year in a move which helped it add £1bn worth of assets and make a £5.3m profit.
True Potential, which offers investment and advisory services, boosted its adviser numbers to 416 in 2013. Its profits for 2013 were up by 47%.
The rise in advisers is partly a result of a large number of staff shed by banks, enabling a recruitment drive to take place.
Turnover at the technology and financial services firm was £27.5m, up 112% from previous year.
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Neil Johnson, senior partner at True Potential, said: "Much of the turnover increase derives from our wealth management advisory business where we have increased adviser numbers by 255% in the year.
"We now have 416 wealth management partners (advisers), up by 255% on the 2012 figure, and this is increasing all the time.
"With all distribution there is a time lag between the initial investment in bringing people on board, and the eventual increase in profit as they go through their first full year with us."
During the year the firm added over £1bn of new assets onto its wealth platform.
Mr Johnson said: "Our wealth management and investment businesses continued to be our main growth areas in 2013 and our success reflects the changing needs of a marketplace that was hugely shaken up by RDR."
The firm also employed 30 new head office staff in 2013.